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Amendments to the Renewable Energy (Electricity) Act 2000

Independent Review – Department of the Environment

On 27 May 2015, the Government introduced legislation to amend the Renewable Energy Target (RET) to reduce the required amount of renewable source electricity (the annual legislated targets under the large-scale component of the RET scheme) for each year until 2030. The legislation also:

  • amends the framework of partial exemptions (from RET liability) for electricity used in undertaking emissions-intensive trade exposed (EITE) activities to provide a clear power for the Renewable Energy (Electricity) (REE) Regulations to provide full exemptions for this electricity; and
  • amends the REE Regulations to reinstate native forest wood waste as an eligible renewable source, under the same conditions that existed prior to its removal from eligibility in 2011.

The report of the 2014 Expert Panel Review of the RET scheme, entitled Renewable Energy Target Scheme – Report of the Expert Panel, was certified by the Department of the Environment as meeting the requirements of a Regulation Impact Statement. Under the Australian Government Guide to Regulation, the Office of Best Practice Regulation (OBPR) does not assess independent reviews. The Department estimates the changes will reduce regulatory burden by $519.6 million per annum. This saving has been agreed with the OBPR.